• FxWirePro: Silver unexpectedly spikes down to fresh 3-week low at $16.78 mark, intraday bias remains neutral

    Source: FxWire Pro - Technicals / 16 Jan 2018 22:24:13   Eastern Standard Time

    • XAG/USD is currently trading around $17.19 marks.
       
    • It made intraday high at $17.27 and low at $17.14 levels.
       
    • Intraday bias remains neutral for the moment.
       
    • A daily close above $17.17 will test key resistances at $17.40, $17.52, $17.76 and $17.90 marks respectively.
       
    • On the other side, a daily close below $17.17 will take the parity down towards key supports at $17.08, $16.98, $16.87, $16.70 and $16.55 marks respectively.
       
    • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

    We prefer to take long position in XAG/USD only above $17.32, stop loss $17.12 and target of $17.40/$17.52 mark.

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